Campaign news

A Flavour of Corbyn

In a speech today (July 22nd) Jeremy Corbyn outlined the economic programme on which he is standing for Labour leader. Here is a flavour. Corbyn explained:

“Labour will close the deficit through building a strong, growing economy that works for all, not by increasing poverty.

“Austerity is a political choice not an economic necessity. There is money available – after all, the government has just given tax breaks to the richest 4% of households.

“Where there are tough choices, we will always protect public services and support for the most vulnerable.

“But in an economy that works for all, we will be able to ask those with income and wealth to spare to contribute a little more.

“You just cannot cut your way to prosperity so Britain needs a publicly-led expansion and reconstruction of the economy, with a big rise in investment levels.
“Under these plans Labour 2020 will make large reductions in the £93 billion of corporate tax relief and subsidies.

“These funds can be used to establish a National Investment Bank to head a multi-billion pound programme of infrastructure upgrades and support for high-tech and innovative industries.

“Talk of the ‘Northern Powerhouse’ is largely southern hot air. The pain of the cuts has been devolved, but power and prosperity remain tightly centralised.
“We must ensure that our national housing, transport, digital and energy networks are among the best in the world.”

“The UK has shifted from taxing income and wealth to taxing consumption; and from taxing corporations to taxing individuals.
“We must ensure that those with the most, pay the most, not just in monetary terms but proportionally too.”